Fintech

Contakt World – Corporate Update

Published

3 years ago

January 25, 2022

Demand for HealthCheck, Contakt’s marquee solution, continues to grow in the face of the Omicron variant-driven wave of COVID-19 and increasing vaccine mandates and requirements in numerous jurisdictions
HealthCheck has added over 20 new customers and has renewed over 130 customer subscriptions within the past 3 months, with nearly 800 customers in total, servicing over 100,000 users in the US alone
HealthCheck alone generated nearly $1.35 million CAD in revenue in calendar 2021 (figures unaudited)
HealthCheck 3.0 has been officially released, adding vaccine passport, COVID-19 test tracking capabilities, and several improvements to its population management dashboard.
Contakt is looking to broaden its portfolio entering 2022, looking to acquire and partner with other SaaS companies in the healthcare sector and beyond

Vancouver, British Columbia–(Newsfile Corp. – January 25, 2022) – Contakt World Technologies Corp. (CSE: HELP) (OTC Pink: TLOOF) (FSE: B2I0) (the “Company“, “Contakt” or “Contakt World“), a SaaS company committed to delivering a diverse suite of subscription based software solutions for healthcare and other industries, is pleased to provide a general corporate update for its shareholders.

HealthCheck
Contakt’s COVID Compliance Solution, Stratum Health (“HealthCheck“), has seen significant growth in new customers and renewals over the past 90 days, primarily driven by the recent surge of COVID-19 Omicron variant globally. HealthCheck has added nearly 20 new enterprise clients since October, and new sales continue to growth month over month. Many of HealthCheck’s largest clients, including Atlanta County Public Schools, with close to 50,000 users (students and school staff), have extended or renewed their annual contracts, continuing to drive revenue.

HealthCheck generated over $1.35 million CAD in revenue in calendar 2021 (figures unaudited). Contakt expects HealthCheck to continue to grow in 2022, with inbound sales inquiries increasing due to vaccine mandates and surges of COVID-19. HealthCheck currently has over 800 clients and over 100,000 active users on its platform. HealthCheck has initiated a robust marketing campaign, targeting businesses, schools and non-profit organizations across multiple jurisdictions and, specifically, those in which vaccine mandates remain in effect.

Contakt is pleased to announce that it has released the 3.0 version of its HealthCheck App and admin dashboard, in response to market demand and feedback from existing and new customers. All HealthCheck customers now have access to the platform’s new vaccine passport and COVID-19 test tracking features, in addition to our established HIPPA-compliant daily symptom screening check based on the CDC’s most updated guidelines. Customers interested in these new features can contact the Company’s customer support for training and activation. In addition to these new important upgrades, several security and improved functionality features were deployed.

Portfolio Expansion
As the Company enters 2022, Contakt is looking to drive growth by broadening its product portfolio through acquisition, partnerships, and joint ventures. The Company is also actively pursuing SaaS solutions that it can grow by leveraging its existing customer base. While the Company is putting a specific focus on “health-tech” solutions, it is also looking beyond to other rapidly growing industries, including the metaverse, and software leveraging enterprise blockchain technology, where it can achieve rapid growth.

“We have been very pleased with the growth of HealthCheck in 2021 and are looking forward to continued growth in 2022. The HealthCheck team continues to drive new sales and deliver new product functionality to address a market that continues to grow and evolve. While we hope that the COVID-19 pandemic will soon come to an end as the virus becomes endemic, we do expect HealthCheck to remain relevant for years to come as we expand our tracking and health record keeping capabilities to address new diseases,” stated Zayn Kalyan, Chief Executive Officer of Contakt World. “Beyond HealthCheck, we are actively looking at a number of SaaS companies in healthcare and other industries where we believe that Company will be able to derive revenue and profit, with the ultimate goal of driving shareholder value,” Mr. Kalyan further stated.

Update on Management Cease Trade Order
On December 30, 2021 the Company announced (the “Default Announcement“) that, due to certain audit delays related to its recent cross-border acquisition, the Company was unable to file its audited annual financial statements, management’s discussion and analysis and related Chief Executive Officer and Chief Financial Officer certificates for the year ended August 31, 2021 (collectively, the “Required Filings“) before the December 29, 2021 filing deadline.

The Company is providing this bi-weekly default status report in accordance with National Policy 12-203 Management Cease Trade Orders (“NP 12-203“). Until such time as the Company files the Required Filings and the MCTO has been revoked, the Company intends to follow the provisions of the alternative reporting guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases.

The Company confirms that, other than as disclosed herein,:

there have been no changes to the information contained in the Default Announcement that would reasonably be expected to be material to an investor;
there have been no failures by the Company to fulfill its stated intentions with respect to satisfying the provisions of the alternative reporting guidelines under NP 12-203;
there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Announcement; and
there is no other material information concerning the affairs of the Company that has not been generally disclosed.

The Company is working expeditiously on the steps required to complete the Required Filings and anticipates that it will be in a position to remedy the default by filing the Required Filings by early February 2022. The MCTO will be in effect until the Required Filings are made.

Correction in Stock Option Cancellations
The Company also confirms it was a total of only 1,350,000 stock options which were cancelled.

Contakt World to Offer Vaccine Passport and Verification Platform to Employers, Events and Organizations, Including Customers of Recently Acquired HealthCheck App

Contakt World Announces Acquisition of HealthCheck, a SaaS Health Screening App for Students, Customers, Employees, and Visitors

To Learn More:
If you are an organization seeking daily health screening and vaccine passports, vaccine wallets, or vaccine credentials, schedule a demo by visiting https://www.stratumhealth.io/. Our team will work with your organization to define the product that better suits your needs.

About Contakt World
Contakt World’s mission is to develop or acquire and deliver software as a service (SaaS) that improves access to, efficiencies within, and quality of healthcare and other industries in all its forms. Contakt World’s portfolio presently includes HealthCheck by Stratum which is used in over 1,000 locations, and Portum Pass https://contakt.world/portum/. Contakt World is actively looking to broaden its software portfolio through acquisitions, partnerships, and joint ventures. The Company is currently looking to broaden its industry scope, looking beyond healthcare, to other industries that can benefit from its current and future solutions.

Sign up for investor updates from Contakt World including updates in the field of vaccine passports and symptom screening by visiting https://contakt.world/help.

Contakt World Contact
Zayn Kalyan
Interim CEO and Director
Direct: 778-938-3367

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

Forward-Looking Statements Disclaimer

This press release contains “forward-looking information” within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “projects”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements, including statements respecting: expected growth at HealthCheck in 2022; HealthCheck’s rollout of marketing campaigns; the new functionality and reception of the new HealthCheck 3.0 platform; the Company’s plans to broaden its portfolio and pursue SaaS solutions; the Company’s hopes that the Covid-19 pandemic will end soon; expected need for HealthCheck’s solutions after the Covid-19 pandemic has ended; and timing for completion of the Required Filings. Although forward-looking statements contained in this press release are based upon what management of Contakt World believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements may also be affected by risks and uncertainties in the business of Contakt World, including those described in the Company’s public filings available on www.SEDAR.com. Contakt World undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111426

Fintech

Banking and Capital Markets: Navigating a Complex Future

Published

12 hours ago

November 29, 2024

Zoltan Tundik

banking-and-capital-markets:-navigating-a-complex-future

Curated in collaboration with the London School of Economics and Political Science (LSE)

The global financial industry stands at a pivotal juncture, facing a rapidly evolving landscape shaped by technological disruption, sustainability mandates, and geopolitical uncertainties. The end of prolonged accommodative monetary policies has ushered in an era of increased scrutiny, regulatory tightening, and heightened demand for innovation. At the same time, financial technology (fintech) continues to transform the sector, driving new opportunities and challenges for traditional banking systems.

This article delves into the strategic issues currently defining Banking and Capital Markets. Drawing from expert insights curated by Lutfey Siddiqi, Visiting Professor-in-Practice at LSE, it examines the dynamic risk environment, emerging technology trends, shifts in banking business models, and the growing focus on sustainability and talent development.

Key Issues Influencing Banking and Capital Markets

The Financial Risk Landscape: Heightened geopolitical tensions and regulatory demands are reshaping the industry.
Financial Technology: Emerging technologies such as artificial intelligence (AI) and blockchain offer potential but also pose significant implementation challenges.
Banking Business Models: Institutions are adopting diverse strategies to navigate competition and shifting market demands.
Financial Talent: Attracting the next generation of banking professionals requires a clear purpose and forward-thinking policies.
Sustainability and Finance: Balancing environmental and social goals with immediate business priorities is a growing challenge.

1. Latest Insights: Shifting the Banking Paradigm

Experts highlight the profound challenges and opportunities facing financial institutions today. From geopolitical volatility to advances in fintech, the banking landscape demands unprecedented agility. Recent developments include:

Monetary Policy Adjustments: China’s central bank explores easing policies to boost investment.
Regulatory Scrutiny: Global banking rules, such as Basel 3.1 reforms, are under review, signaling potential shifts in global supervision.
Financial Inclusion: Updates from the Financial Action Task Force (FATF) aim to balance anti-money laundering standards with broader access to financial services.

These trends emphasize the need for financial institutions to anticipate disruptions while fostering resilience and innovation.

2. Strategic Context: Transforming Banking in a High-Stakes Era

2.1 The Financial Risk Landscape

Banks are grappling with an increasingly volatile environment characterized by geopolitical tensions, regulatory reforms, and market disruptions. The end of ultra-loose monetary policies has highlighted weaknesses in traditional funding models, exemplified by the high-profile collapses of Silicon Valley Bank and Credit Suisse in 2023.

Regulators are tightening oversight, expanding their focus to include non-bank institutions and fintech companies. Additionally, rising geopolitical tensions demand localized data operations, robust cybersecurity measures, and new approaches to global strategy.

Key takeaway: In an age of uncertainty, resilience and stability are essential.

2.2 Financial Technology

The Fourth Industrial Revolution continues to reshape banking through advancements like AI, blockchain, and quantum computing. However, challenges remain, such as limited real-world blockchain applications and increasing cybersecurity risks tied to digitalization.

Financial institutions must adopt technology thoughtfully, focusing on solutions that address specific operational pain points and align with organizational goals. Balancing efficiency with contingency planning for outages and cyber threats is paramount.

Key takeaway: Tech adoption must prioritize practicality, security, and alignment with purpose.

2.3 Banking Business Models

Global trends are driving a diversification of banking models. Some institutions are scaling back operations in unprofitable markets, while others are leveraging acquisitions or digital innovation to expand. The rise of big tech competitors—armed with vast behavioral data—adds a new layer of complexity to the competitive landscape.

Emerging trends include:

Consolidation of corporate and private banking services.
Strategic retreats from costly markets, such as HSBC’s exit from US retail banking.
Big tech firms offering financial services as data-driven loss leaders.

Key takeaway: Differentiation and adaptability are critical in a fragmented, competitive market.

2.4 Financial Talent

The banking sector faces a mounting talent crisis, particularly among younger generations who view the industry as outdated or misaligned with their values. To attract top talent, banks must redefine their purpose and emphasize their commitment to sustainability, innovation, and career growth opportunities.

Surveys indicate that young professionals seek workplaces offering training, flexibility, and inclusive leadership. Reskilling initiatives and a focus on digital expertise will also be key to preparing employees for the future.

Key takeaway: A compelling vision for the future of banking is essential to attract and retain top talent.

2.5 Sustainability and Finance

Sustainability has become a focal point for the financial industry, driven by growing demand for ESG (Environmental, Social, and Governance) initiatives. However, backlash against greenwashing and tokenism has led banks to reevaluate their approaches.

Balancing short-term priorities like energy security with long-term goals like combating climate change requires bold leadership. Opportunities abound in areas such as carbon trading, green bonds, and sustainability-linked investment products. However, success demands authenticity and a commitment to systemic change.

Key takeaway: Embedding sustainability into core operations is vital for long-term success.

Transformation Maps: A Strategic Tool for Leaders

This analysis leverages the World Economic Forum’s Strategic Intelligence Transformation Maps, which provide an interconnected view of global trends and challenges. These tools enable leaders to explore key topics, such as cybersecurity, fintech, and sustainability, and understand how they shape the future of Banking and Capital Markets.

Conclusion

The financial industry’s journey through this transformative era requires agility, innovation, and a deep commitment to purpose. From adapting to geopolitical tensions to embracing sustainability and nurturing top talent, financial institutions must strike a delicate balance between tradition and progress.

By leveraging technology, redefining business models, and embedding ESG principles into their strategies, the sector can navigate today’s challenges and build a resilient, forward-thinking future.

For more insights and resources, visit the World Economic Forum’s Strategic Intelligence platform.

The post Banking and Capital Markets: Navigating a Complex Future appeared first on News, Events, Advertising Options.

Fintech

Former MD of SUI Foundation, Greg Siourounis, Joins xMoney Global as Co-Founder and CEO to build MiCA-Regulated Stablecoin Platform

Published

3 days ago

November 27, 2024

Adrienn Sarkany

former-md-of-sui-foundation,-greg-siourounis,-joins-xmoney-global-as-co-founder-and-ceo-to-build-mica-regulated-stablecoin-platform

xMoney Global, the global, inter-bank and cross crypto/fiat integrated payments platform has appointed award-winning economist Dr. Greg Siourounis as Co-Founder and CEO. The company is a Mastercard principal member, with strategic European licenses, such as e-Money and VASP.

As the digital landscape continues to evolve with the coming MiCA regulation, xMoney Global intends to lead Europe into this new transformative EU regulated stablecoin era. Greg Siourounis will lead the integration of xMoney’s advanced blockchain-enabled payments infrastructure with its upcoming stablecoin program. Stablecoins are a key driver of blockchain adoption in today’s market, now surpassing Bitcoin, remittances, and PayPal in annual transaction volume. As such, xMoney’s Global reputation positions it to bridge Web3 innovation with traditional finance, leading Europe into a new transformative EU regulated stablecoin era.

Dr. Greg, who has played a pioneering role in the growth of Sui Foundation as its former Managing Director and who previously founded Everypay, will drive xMoney Global’s next wave of growth. Beyond the standard reference of his academic work in 2024’s Nobel Prize in Economics, Dr. Greg’s career is also decorated with awards such as the 2005 Young Economist Award from The European Economic Association and the 2008 Austin Robinson Prize from The Royal Economic Society. His immediate target will be to focus on partnerships, regulatory alignment and market expansion, as xMoney Global looks to build a comprehensive payments platform that bridges legacy financial systems with the potential of decentralized finance.

Commenting on his appointment, Dr. Greg Siourounis, CEO of xMoney Global, said, “As Europe prepares to embrace MiCA regulation, xMoney Global is positioned to redefine what compliant, secure, and seamless digital payments can be. Our goal is to deliver a solid and trusted ecosystem that combines the strengths of traditional finance with the flexibility of blockchain technology to create a future-ready payment experience.”

Beniamin Mincu, Co-founder of MultiversX, said, “xMoney Global’s mission aligns perfectly with the vision of MultiversX to bring scalable and secure blockchain solutions to mainstream finance. This appointment marks a significant step toward building a more inclusive and resilient financial system.”

The launch of xMoney Global aims to offer a next-gen blockchain-as-a-service module backed by its native stablecoin, with key white-labeled services including acquiring, issuing, onramps/offramps and a sticky loyalty program, all backed by MultiversX’s state-of-the-art sharding technology. Following the surge in crypto markets after Trump’s pro-crypto Presidential win, xMoney will be ideally placed to accelerate real-world adoption as the easiest way for everyone (consumers, retail and e-commerce) to seamlessly access fiat and crypto currencies in an app, card or payment gateway.

The post Former MD of SUI Foundation, Greg Siourounis, Joins xMoney Global as Co-Founder and CEO to build MiCA-Regulated Stablecoin Platform appeared first on News, Events, Advertising Options.

Fintech

Fintech Pulse: A Daily Dive into Industry Innovations and Developments

Published

3 days ago

November 26, 2024

Peter Tolan

fintech-pulse:-a-daily-dive-into-industry-innovations-and-developments

The financial technology sector continues to evolve at a rapid pace, offering innovations that disrupt traditional paradigms. Today’s briefing underscores fintech’s diverse growth avenues: from substantial venture capital plays and strategic partnerships to groundbreaking implementations in lending. Here’s a closer look at recent developments shaping the landscape.

Synapse’s Comeback and Andreessen Horowitz’s Strategic Bet

Source: Axios
Synapse, a financial infrastructure company previously embattled by controversy, is staging a remarkable comeback, backed by none other than venture capital heavyweight Andreessen Horowitz (a16z). With this new infusion of funds, Synapse aims to consolidate its position as a premier platform for building financial services tools.

This resurgence demonstrates the resilience of the fintech ecosystem, where innovation often prevails over turbulence. Synapse’s renewed vigor also signals that top-tier investors remain bullish on infrastructural solutions pivotal to the future of digital finance. Andreessen Horowitz’s participation not only validates Synapse’s model but also underscores the VC giant’s enduring interest in fintech infrastructure, even amid global economic uncertainties.

Analysis:
This partnership exemplifies the dynamism within fintech, highlighting the interplay of innovation, capital, and resilience. It also raises questions about the broader implications of giving second chances to firms with turbulent histories. While Synapse’s evolution could inspire others, it also places a spotlight on governance and accountability in high-growth sectors.

Israel’s Fintech Scene Gets a Boost with Investment in Finova Capital

Source: Calcalistech
Israeli fintech startup Finova Capital has raised an impressive $20 million in a funding round led by prominent institutional investors. This marks a significant milestone for the company as it seeks to expand its suite of financial solutions aimed at underserved markets.

Israel’s fintech ecosystem has long been recognized as a hub of innovation, and this latest investment only reinforces its global standing. Finova Capital’s focus on empowering smaller businesses and fostering financial inclusivity aligns with emerging trends where tech-driven solutions bridge critical gaps in financial services.

Analysis:
With this funding, Finova is poised to enhance its technological offerings while contributing to economic inclusion. However, the broader fintech industry will watch closely to see how the company leverages this capital amid increasing competition from regional and global players.

India’s Yubi Plans a Fundraising Push

Source: Bloomberg
Yubi, a prominent Indian fintech platform backed by Insight Partners, is reportedly preparing for a new fundraising round. Having already established itself as a leader in credit infrastructure, Yubi aims to bolster its offerings and expand its market footprint.

India’s fintech landscape is witnessing explosive growth, with platforms like Yubi playing a critical role in the credit ecosystem. Yubi’s planned fundraising reflects the broader appetite for scaling solutions that streamline credit access, particularly in emerging markets where traditional lending models often fall short.

Analysis:
This development highlights two key trends: the increasing reliance on credit platforms in high-growth economies and the strategic role of international investors like Insight Partners in driving fintech innovation. Yubi’s expansion plans could set a precedent for other regional fintech players seeking to scale amid global economic headwinds.

Provenir and Hastings Financial Services Win Global Recognition

Source: Business Wire
In a testament to the transformative power of digital lending solutions, Provenir and Hastings Financial Services have been jointly recognized for the Best Digital Lending Implementation at the IBSi Global Fintech Innovation Awards. This accolade underscores the success of their collaboration in modernizing the lending process through cutting-edge technology.

Provenir’s advanced decision-making platform and Hastings Financial Services’ lending expertise have delivered a solution that significantly enhances user experience, operational efficiency, and risk management. Such innovations highlight the increasing role of partnerships in advancing fintech’s digital transformation.

Analysis:
This recognition not only validates the efficacy of digital lending but also emphasizes the importance of partnerships in driving innovation. It signals to the industry that collaboration can be a powerful tool for staying ahead in a rapidly evolving marketplace.

Microf and Quantum Financial Technologies Forge New Alliances

Source: PR Newswire
Microf, a financial solutions provider, has announced a strategic partnership with Quantum Financial Technologies. This collaboration aims to expand lending solutions for contractors, providing streamlined access to capital for businesses in need of flexible financing options.

This partnership is a timely response to the growing demand for specialized financial products in niche markets. By leveraging Quantum’s technology, Microf can now offer more tailored solutions, particularly to contractors navigating complex financial requirements.

Analysis:
This development reflects a growing trend: the diversification of fintech offerings to serve specific market segments. As competition in mainstream fintech intensifies, targeting underserved niches could become a defining strategy for success.

Key Takeaways for the Fintech Ecosystem

Resilience in Fintech Funding: Despite economic uncertainties, venture capital continues to fuel innovative fintech players like Synapse and Finova Capital.
Regional Growth Stories: From Israel to India, fintech ecosystems are thriving, attracting global attention and investment.
Collaboration as a Catalyst: The success of partnerships like Provenir-Hastings and Microf-Quantum underscores the importance of strategic alliances.
The Power of Recognition: Awards like the IBSi Fintech Innovation Awards validate industry achievements, inspiring others to push the envelope.
Focus on Inclusion: Whether through credit platforms or lending solutions, fintech is playing a pivotal role in fostering financial inclusivity worldwide.

Looking Ahead: Challenges and Opportunities

The fintech sector’s journey is far from linear. Regulatory complexities, technological disruptions, and market volatility remain persistent challenges. However, as seen in today’s developments, the opportunities far outweigh the risks. By prioritizing innovation, collaboration, and inclusivity, fintech players can navigate the complexities of the global financial landscape.

This moment in fintech history is pivotal. It’s a time for bold decisions, strategic partnerships, and a commitment to bridging financial divides. As industry players rise to the occasion, the road ahead promises a future where technology and finance intertwine to empower individuals and businesses alike.

The post Fintech Pulse: A Daily Dive into Industry Innovations and Developments appeared first on News, Events, Advertising Options.